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| ITCO organises business meet on Solar energy Excelsior Correspondent JAMMU, Nov 24: Indian Renewable Energy Development Agency (IREDA) organised one day business meet on Solar energy in collaboration.........more
Fiscal deficit NEW DELHI, Nov 24: The gross fiscal deficit of the Government during the first six months of....more HUDA collects Rs PANCHKULA, Nov 24: Haryana Urban Development Authority (HUDA) has collected over Rs....more Japanese appreciate NEW DELHI, Nov 24: The Japanese Ambassador to India H Hirabayashi has appreciated the.......more NEW DELHI, Nov 23: An easy trend developed on the bullion market today as the price of silver.....more |
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APM for petroleum NEW DELHI, Nov 24: Government said today that the Administered Pricing Mechanism (APM) for petroleum products would be phased out by 2002 by gradually doing away with subsidies and rationalising ..........more ROC approves MUMBAI, Nov 24: The Registrar of Companies has approved the proposed Initial Public Offering of Adlabs Films Ltd. Adlabs Films is today India’s premie motion picture processing laboratory........more Cyclicals finish up, cement NEW DELHI, Nov 24: Cyclical stocks led by cement sector traded heavily on the stock market today following sustained buying by domestic financial institutions amidst some short-covering by bear .......more Intl trade suffers MOREH (MANIPUR), Nov 24: Indo-Myanmar trade through this border town in Manipur’s...more |
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ITCO organises business meet on Solar energy Excelsior Correspondent JAMMU, Nov 24: Indian Renewable Energy Development Agency (IREDA) organised one day business meet on Solar energy in collaboration with Industrial and Technical Consultancy Organisation Limited (ITCO) Jammu here today. According to an official handout, IREDA was incorporated as public limited government company for promoting, developing and financing new and renewable sources of energy and to extend help in large scale utilisation of renewable energy sources including small Hydro projects up to 25 MW. IREDA has appointed J&K ITCO as their business development associate in the state. Bharatiya Janata Party MLA, Mr Piara Singh presided over the meet while Principal Secretary Industries and Commerce Mr Mohd Shafi Pandit was the chief guest. Commissioner-Secretary, Department of Science and Technology Mr B L Nimesh and other senior officials from JAKEDA,SIDCO, SIDBI were also present besides CCI president Mr Ram Sahai. Speaking on the occasion, Mr A A Khatana, General Manager IREDA elaborated about various schemes including technical aspects and terms and conditions of availing financial assistance from IREDA for setting up of projects on new and renewable sources of energy. Mr Mahajan also spoke about various incentives/ concession available from Ministry of Non-Conventional Energy Sources. The chief guest Mr Pandit, highlighted the present scenario of power availability in the state and the constraints faced by the J&K Government to combat the difficulties. He appreciated the efforts of IREDA and ITCO for organising such a meet. Ch Piara Singh, Mr B L Nimesh also spoke on the occasion. |
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Fiscal deficit low compared with last year NEW DELHI, Nov 24: The gross fiscal deficit of the Government during the first six months of current financial year was Rs 42,592 crore, Lok Sabha was informed today. This was low by 18.7 percent compared with fiscal deficit of Rs 52,395 crore in April-September last year, Finance Minister Yashwant Sinha said replying to a question. Keeping in view the trend of revenue collection and expenditure, it would be possible to keep the deficit within budgeted limits at the end of the financial year, he said. (PTI) |
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HUDA collects Rs 60 crore for allotment of plots PANCHKULA, Nov 24: Haryana Urban Development Authority (HUDA) has collected over Rs 60 crore from nearly 11687 applicants responding to its advertisement for 2747 free-hold residential plots in six urban estates — Panchkula, Gurgaon, Faridabad, Daruhera, Sirsa and Pehowa. HUDA officials termed the response ‘satisfactory. "The response was fairly good for Panchkula and Gurgaon residential plots followed by Faridabad," a HUDA spokesman said. HUDA had carved out maximum number of 1626 plots in Gurgaon which was followed by 532 in Dharuhera. In Sirsa, there were 238 plots, while in Faridabad there were 222 plots. The number of plots in Panchkula was 92 and in Pehowa 37. Haryana Government’s changing policy had directed HUDA to conduct auction instead of allotting residential plots by inviting application and holding a draw. The Indian National Lok Dal Government after over four and a half years scrapped the auction system and reverted to the old system of alloting plots through a draw of lots. (PTI) |
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Japanese appreciate Delhi metro progress NEW DELHI, Nov 24: The Japanese Ambassador to India H Hirabayashi has appreciated the excellent work done by the Delhi metro team in the planning and execution of the Mass Rapid Transit System (MRTS) for Delhi. The Delhi metro project symbolises Indo-Japanese collaboration and is one of the most prestigious projects being undertaken under funding through the Japanese Bank for International Corporation (JBIC). Fifty six per cent of the total cost of the Delhi metro project is being funded through a soft loan from Japan to be paid back over a period of 30 years with a 10-year moratorium. The total cost of project is Rs. 4,860/- crores (April 96 price level). The Delhi metro project is a hi-tech project with important features such as automatic train control and operation, automatic entry gates with contactless smart card facility, escalators and sophisticated signaling and electrical systems which will be introduced for the first time in the country and will be comparable to international metro standards. The Japanese Ambassador during a visit to the Delhi metro display expressed the hope that the metro rail system would expand quickly in the city so as to provide relief for the citizens of Delhi, a Delhi Metro Rail Corporation release said here today. (UNI) |
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APM for petroleum products would be phased out by 2002 NEW DELHI, Nov 24: Government said today that the Administered Pricing Mechanism (APM) for petroleum products would be phased out by 2002 by gradually doing away with subsidies and rationalising customs and excise duty structure. Addressing the Executive Assembly of the World Energy Council here, Petroleum Minister Ram Naik said from 2002, subsidy at the rate of only 33.3 per cent of price of kerosene and 15 per cent of LPG for domestic use would remain to be provided through the Central Government budget. The price of diesel would be linked to import parity price, he added. While Aviation Turbine Fuel (ATF) would be decontrolled by March 2001, the customs duty on import of crude oil was being brought down and that on products was being rationalised, Naik said. Price of crude oil and refinery gate prices of controlled petroleum products were being determined on the basis of import parity prices since April 1998 and prices of all other products except petrol, diesel, ATF, cooking gas (LPG) and kerosene for public distribution purposes have been decontrolled. Parallel marketing of commodities for mass consumption, namely kerosene and LPG, by private entrepreneurs was allowed in 1993, he said adding marketing rights for transportation fuels— petrol, diesel and ATF —to private sector would be given to companies which had invested or propose to invest Rs 2,000 crore in projects in oil sector. (PTI) |
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ROC approves proposed IPO of Adlabs MUMBAI, Nov 24: The Registrar of Companies has approved the proposed Initial Public Offering of Adlabs Films Ltd. Adlabs Films is today India’s premie motion picture processing laboratory. The company has planned an issue of 44 lakh equity shares of Rs 5 each at a premium of Rs 116 per share, aggregating Rs 62.00 crore. The IPO planned in the month of December, would primarily facilitate the completion of a four cinema multiplex and an imax dome theatre. A part of IPC proceede would also help upgrade and modernize the company’s existing processing laboratory at Film City, Mumbai. Founded by Mr Manmohan Shetty and Mr Vasanji Mamania, Adlabs Films Ltd., initially catered to only the ad films market. Processing documentaries and short films then became a part of Adlabs’ growing business. The company recently processed a record number of prints during the festival Diwali session of two bollywood blockbuters namely Mohabatain and Mission Kashmir. (UNI) |
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Cyclicals finish up, cement stocks hog limelight NEW DELHI, Nov 24: Cyclical stocks led by cement sector traded heavily on the stock market today following sustained buying by domestic financial institutions amidst some short-covering by bear operators and finished with sizeable to moderate gains. Selective Information Technology (IT) and telecom sector stocks also showed some strength despite weakening trends on wall street and Asian markets. The Delhi Stock Exchange sensitive index which recovered to 823.04 points in early trading on the back of rise in index-related old-economy stock prices, surrendered part of earlier gains to close 1.85 points up at 821.50 points. Stock brokers said players were seen concentrating more on traditional blue-chip stocks of cement, steel, automobile and petrochemical company stocks, available at prevailing attractive levels. They said re-emergence of buying interest in cyclical stocks forced bear operators to cover up their positions on fears of further rise in coming sessions. Stocks of cement companies continued to hog the limelight following reports of second round of price hike in cement prices amidst Government’s measures to boost domestic demand, they added. "Gradual recovery in traditional blue-chip stocks kept the market somewhat in a better shape," a DSE broker said, adding "sustained rise in cement stock prices remained the key feature of today’s trading." Larsen and Toubro continued to rise on sustained buying by institutional investors followed by hectic short-covering and prices surged to Rs 175.90 before finishing Rs 7.05, or nearly 4 per cent higher at Rs 174.95. Grasim Industries too remained in the limelight on persistent buying by institutional investors and ended Rs 7.40 higher at Rs 233.50 off the day’s high of Rs 239.95 but profit-taking pruned earlier gains. Gujarat Ambuja Cement in highly volatile trading surged to Rs 166 at one stage but late selling amidst squaring-up of positions, wiped-off earlier gains completely and ended at Rs 154.50 against the previous closing of Rs 154.90. TATA Group stocks such as TATA Steel also evoked increased buying support particularly from domestic financial institutions and rallied to Rs 117 before closing at Rs 116.90, showing a gain of Rs 4.65. TATA Loco in hectic trading ended Rs 4.30 higher at Rs 87.95 after rising to Rs 88.20 on sizeable purchases by knowledgeable circles. State-run State Bank of India ended 95 paisa higher at Rs 169.35 while HDFC bank rose Rs 4.55 higher at Rs 222.55 and HDFC Ltd shot up by a whopping Rs 19 to close at Rs 504 on sizeable buying by financial institutions. Infosys technologies continued to show two-way movements on selective buying and selling by players and ended Rs 30 higher at Rs 7490 after bouncing between Rs 7410 and Rs 7500. Wipro Ltd after initial hesitancy, staged a strong comeback on low-level buying amidst short-covering and ended Rs 69, or nearly 2.8 per cent higher at Rs 2519. Digital Equipment, NIIT Ltd, Pentamedia Graphics and Aptech Ltd also finished on a firm note. (PTI) |
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Intl trade suffers because of vehicle strike in Manipur MOREH (MANIPUR), Nov 24: Indo-Myanmar trade through this border town in Manipur’s Chandel district has suffered a setback due to an indefinite strike called by the Joint Action Committee of Bus and Taxi Owners (JACOBTO) to protest the "goods tax" imposed by several underground groups, official sources said here today. The JACOBTO had stopped running commercial and passenger vehicles on Imphal-Moreh national highway number 39 since November 6 last in protest against the huge ‘goods tax’ imposed by several underground groups. A JACOBTO spokesman told reporters that they were also protesting against what he termed "illegal taxes collected by police at several check posts located between Moreh and Imphal". He said vehicle owners were paying yearly ‘vehicle tax’ to several outlawed organisations which included NSCN (I-M), Kanglei Yawow Kann Lup, Kuki National Army and others. He said it has become ‘unbearable’ for vehicle owners to run their vehicles as the underground groups had recently imposed ‘goods tax’ on every vehicle. Two vehicles were set ablaze by them for not paying the ‘underground tax’. They said at least 120 vehicles including passenger buses used to ply everyday carrying commercial items and over 4000 passengers (most of them small traders) between Imphal and Moreh before the strike. Sources said all goods items have stopped coming for the past three weeks from Imphal and also from Myanmar side since the items from that side could not be transported to imphal. The border town looked dull as there was no active business activities at the markets here. (PTI) |
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